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From Mao To Market Rent Seeking Local Protectionism And Marketization In China Cambridge Modern China Series Andrew H Wedeman

  • SKU: BELL-2527716
From Mao To Market Rent Seeking Local Protectionism And Marketization In China Cambridge Modern China Series Andrew H Wedeman
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From Mao To Market Rent Seeking Local Protectionism And Marketization In China Cambridge Modern China Series Andrew H Wedeman instant download after payment.

Publisher: Cambridge University Press
File Extension: PDF
File size: 2.14 MB
Pages: 294
Author: Andrew H. Wedeman
ISBN: 9780521809603, 0521809606
Language: English
Year: 2003

Product desciption

From Mao To Market Rent Seeking Local Protectionism And Marketization In China Cambridge Modern China Series Andrew H Wedeman by Andrew H. Wedeman 9780521809603, 0521809606 instant download after payment.

Andrew Wedeman argues that economic reform in China succeeded because government failed to prevent local officials from forcing prices to market levels. Reformers opted for a hybrid system of price controls in the 1980s, wherein commodities had both fixed and floating prices. Depressed fixed prices led to "resource wars," as localities vied for control over undervalued commodities while inflated prices fueled an investment boom that saturated markets and led to import barriers. Although local rent seeking and protectionism appeared to carve up the economy, they had actually cleared the way for sweeping reforms.

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